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Showing posts from 2018

Amazon, to win in rural India, reinvents itself

https://www.wsj.com/articles/amazon-to-win-in-booming-rural-india-reinvents-itself-11546196176?emailToken=876fce6a6b0246f7085e59f9132bca14ua6ON7OJ4HkvxWMKhjvCShVNBhW8TmQPoS39alSfsbASvwndf5gMINm6EigtNhDx+ctkn/Ti2N8NzL/Eip719l0anFZO9c1AvMiG/YYmmBqzubh+R9E+pPtMIY+Yc4Hm&reflink=article_copyURL_share

India Curbs Power of Amazon and Walmart to Sell Products Online

India Curbs Power of Amazon and Walmart to Sell Products Online https://nyti.ms/2GPQE8W?smid=nytcore-ios-share
https://www.wsj.com/articles/think-electric-vehicles-are-great-now-just-wait-11545838139?emailToken=628bfbc3b1c29ce1a6c81fe70c1d98ffZOBSym37/dFjwzU9/3fsy2u4M/rg0+c4htE0Zx3o3auPZW6vHtYakNs6Y25ypVNFnuPM5iAwBfCgIsxmMzwf0Zs90Q2O2/5yQs2PnTxsvMY%3D&reflink=article_copyURL_share

The End of Europe

The End of Europe? https://nyti.ms/2R3kJWg?smid=nytcore-ios-share

Star Economist at Harvard Faces Sexual Harassment Complaints

Star Economist at Harvard Faces Sexual Harassment Complaints https://nyti.ms/2zYuUSq?smid=nytcore-ios-share

Wielding Data, Women Force a Reckoning Over Bias in the Economics Field

Wielding Data, Women Force a Reckoning Over Bias in the Economics Field https://nyti.ms/2FlIboV?smid=nytcore-ios-share

Another Trade War like that with Japan?

https://www.wsj.com/articles/the-old-u-s-trade-war-with-japan-looms-over-todays-dispute-with-china-11544717163?emailToken=6a0fb64ce7fefecf790710b17f3149b41/+gQbmPepBovtkt1Faa8OpccxaLNs1lzA4M11TDxIAY14YATwbQu2tN1AigcnbDzp/KO1ZQ+BSNBUusFX4v0hu2TUxnI2Hyi/EB5WAbTGLHnd5zStUe6sg5J8Mkn0rpZ3dW+E7HViR27Yn/kdmlKQ%3D%3D&reflink=article_copyURL_share

What straight A students get wrong

What Straight-A Students Get Wrong https://nyti.ms/2G7GakS?smid=nytcore-ios-share What straight a students get wrong

The Planning Fallacy

https://apple.news/AJHorCWH7T-ibi3szI1VWvg

Hate Amazon? Try Living Without It

Hate Amazon? Try Living Without It https://nyti.ms/2G9grby?smid=nytcore-ios-share

Happiness & Productivity

Study referenced in Disantis' class of Thursday, December 6: https://www.journals.uchicago.edu/doi/10.1086/681096

Impact Investiing

https://thegiin.org/impact-investing/need-to-know/
WINTER QUARTER RESEARCH PROJECT WITH JOHN LIST’S GRADUATE STUDENTS Some of you will have the opportunity during the Winter Quarter to work with Professor List’s graduate students on topic of mutual interest in lieu of writing a stock selection paper for Mr. Janus and doing a marketing project for Mr. Disantis. If you are interested, and chosen to work with one of these graduate students, you will be required to do a significant amount of work with them at a time outside of your economics class period, and be willing to report back to your class on the work that you have done. On Monday you will be handed a hard copy of the graduate students and their research preferences. If you wish to participate in this program, select a graduate student and their interest that you would like to explore. Then, write a brief paragraph explaining why you are interested in this topic . Mr. Disantis and I will evaluate your paragraph and share it with the graduate student you have chosen to work with

Possible Janus Test Questions

1. Draw a perfectly competitive market and a monopoly. What are the differences between them? 2. What were the issues at Harvard  Business School in 2013? Explain the gender make-over that the institution underwent.  3. Explain the History of anti-trust legislation in this country as articulated by Colander. 4. What is the ten thousand hour rule? Cite several examples of it in operation.

Amazon confirms it's working on a project to mine patient records and more accurately diagnose diseases

https://www.cnbc.com/2018/11/27/amazon-is-working-to-mine-patient-records-to-diagnose-disease.html

When Blue Chip Companies Pile on Debt, It’s Time to Worry

When Blue Chip Companies Pile on Debt, It’s Time to Worry https://nyti.ms/2zraQru?smid=nytcore-ios-share

Apple will tell the Supreme Court that it can't be sued by iPhone users who say the App Store is a monopoly

https://www.cnbc.com/2018/11/26/apple-to-tell-supreme-court-it-cant-be-sued-in-app-store-dispute.html

The Monopolization of America

The Monopolization of America https://nyti.ms/2DKivnv?smid=nytcore-ios-share

U.S. Climate Report Warns of Damaged Environment and Shrinking Economy

U.S. Climate Report Warns of Damaged Environment and Shrinking Economy   https://nyti.ms/2zmesuU?smid=nytcore-ios-share

A Winter-Coat Heavyweight Gives Trump’s Trade War the Cold Shoulder

A Winter-Coat Heavyweight Gives Trump’s Trade War the Cold Shoulder https://nyti.ms/2zxFtf1?smid=nytcore-ios-share

Amazon wants to become the Market

https://www.thenation.com/article/amazon-doesnt-just-want-to-dominate-the-market-it-wants-to-become-the-market/

The power of nudges for good and bad

https://www.nytimes.com/2015/11/01/upshot/the-power-of-nudges-for-good-and-bad.html

Be Afraid of Economic Bigness

Be Afraid of Economic ‘Bigness.’ Be Very Afraid. https://nyti.ms/2Dffewd?smid=nytcore-ios-share

Possible Questions for Janus’ classes for Quiz 4

1. What is Chaos theory?  What is the opposite way to view the world?How do you live in a world where Chaos Theory exists?  2. What are the key curves in Production Cost Analysis? Using these curves how should you run your business?  3. Apply the imbalance of information to a used car lot and then health care. What are the solutions in these markets for these imbalances? 4. What do Alan Krueger and Stacy Dale say about attending elite schools?

Should America be a warning to other countries?

https://www.theguardian.com/business/2018/nov/05/joseph-stiglitz-america-should-be-a-warning-to-other-countries

US law enforcement failed to see the threat of white Nationalism. . Now they don’t know how to stop it.

U.S. Law Enforcement Failed to See the Threat of White Nationalism. Now They Don’t Know How to Stop It. https://nyti.ms/2CXrrpm?smid=nytcore-ios-share

On Hold for 45 Minutes?

https://www.wsj.com/articles/on-hold-for-45-minutes-it-might-be-your-secret-customer-score-1541084656?emailToken=e3b834a827f09f889547bd9426317757MNDFB/R6Rhez5clPahdxIePussV5IhEwo06sB9XtSfX2t5jdr/bY4JprugT0yS82oT4U38wxQwDgRB0tY2eeg5HKGrPHGhOwiPcbtRwydo8+oiheABhsvsTTGru/7BxZ&reflink=article_copyURL_share

U.S.-India, Trump sees only Harley-Davisson

In U.S.-India Trade, Trump Sees Only Harley-Davidson https://nyti.ms/2yRXRin?smid=nytcore-ios-share

Netflix’s Blunt Culture Unsettles the Ranks

https://www.wsj.com/articles/at-netflix-radical-transparency-and-blunt-firings-unsettle-the-ranks-1540497174?emailToken=064a6ddcd270e120325aaa1260d0c046nNhd/paiQ4eKzJLvq0f8NlJBbOvbbG2OMy2yBh1yWmgpNQVYbyhxlFwaDeAwXjFlto3WhGo6g0ou5gOEOkW4gzucGDxgI+kkOF/hjzP695aSc6dVASxNSl3rtDaBRx6O&reflink=article_copyURL_share

Don’r Get too Excited about Medicare for All

‘Don’t Get Too Excited’ About Medicare for All https://nyti.ms/2AinQ3k?smid=nytcore-ios-share
Quiz 3 in Economics. Possible Questions 1. What is comparative advantage? Who benefits from comparative advantage or trade  and who does not? 2. How did Illinois get into the financial mess that it is in? What are the possible solutions to resolving the financial crisis? 3. What is the formal definition of supply side economics? How have Republicans, beginning with Reagan, changed that definition? What is wrong with the latter definition? 4. What does my classmate from Kent (see home page on the blog for quote) add to your understanding of behavioral economics?

No, Trump’s tax it is not payinfg for itself (at least not yet)

No, Trump’s Tax Cut Isn’t Paying for Itself (at Least Not Yet) https://nyti.ms/2QTNnFo?smid=nytcore-ios-share

From a classmate of mine at Kent that bears on our study of behavioral economics

The theory of motivated reasoning builds on a  key insight of modern neuroscience  (PDF): Reasoning is actually suffused with emotion (or what researchers often call “affect”). Not only are the two inseparable, but our positive or negative feelings about people, things, and ideas arise much more rapidly than our conscious thoughts, in a matter of milliseconds—fast enough to detect with an EEG device, but long before we’re aware of it. That shouldn’t be surprising: Evolution required us to react very quickly to stimuli in our environment. It’s a “basic human survival skill,” explains political scientist  Arthur Lupia  of the University of Michigan. We push threatening information away; we pull friendly information close. We apply fight-or-flight reflexes not only to predators, but to data itself… Given the power of our prior beliefs to skew how we respond to new information, one thing is becoming clear: If you want someone to accept new evidence, make sure to present it to them in

ASK DAN. When my boss makes me exercise

https://www.wsj.com/articles/when-the-boss-makes-exercise-a-requirement-1539182407?emailToken=cbeed8060267213921f4446f4d979665ssy4WwzL64K03f08apyUmRtBEq8+8U/3HDopuJkpbb22A/TnvJ7w0yWgWMJE3OcJUi1fI4u54CYEA68P2g+mOkJE1iFchf3+uIqLnKeqZvk%3D&reflink=article_copyURL_share

Why is behavioral economics so popular?

https://www.nytimes.com/2018/10/06/opinion/sunday/behavioral-economics.html

How Did Walmart Get Cleaner Stores and Higher Sales? It Paid Its People More

How Did Walmart Get Cleaner Stores and Higher Sales? It Paid Its People More   https://nyti.ms/2e5IgCj?smid=nytcore-ios-share

Amazon to Raise Minimum Hourly Wage for All U.S. Workers to $15

Amazon to Raise Minimum Hourly Wage for All U.S. Workers to $15   https://nyti.ms/2NY1Zqv?smid=nytcore-ios-share

Applications keep falling at MBA programs even hitting elite schools

https://www.wsj.com/articles/m-b-a-applications-keep-falling-in-u-s-this-year-hitting-even-elite-schools-1538366461?emailToken=d060c84bfd369740703d971750af2d57BOk+l/80w42FDKkWpPalWEoCgi71ezEQeIX33SNrRrxZmMz0hy9bjaYuoMUmxZV9VyDQgsD6t4+oQpEf/tqzq0uDbOOb9ZV3NUj8ySnGaTu8jCPADTl9AZ2IaPADD40Wpn3z0+U3kjixsdR2/k4XPg%3D%3D&reflink=article_copyURL_share
Economics Quiz 2, Possible Essay Questions for Janus’ Classes 1. Please explain the “present bias.” Cite examples.         2. Why does the author of “ The Cognitive Biases Tricking Your Brain” think that the “confirmation bias”  is the most “pervasive and damaging”? Please provide some of the  proof that the author  cites for this statement.           3. Why does Ariely think that the truth is relative? Please cite examples of this relativity from his book and your own life.          4. Please explain elasticity. Why is it critical that the owner of a business understand this term and employ the concept of elasticity in running their enterprise? 

China Retaliates after the United States Imposes New Tariffs

https://youtu.be/Ssf_TDsbXuA

Lehman Failed for Good Reasons

Lehman Failed for Good Reasons   https://nyti.ms/2NgKoJT?smid=nytcore-ios-share

Dominos Offered Free Pizza for Life

https://www.wsj.com/articles/dominos-offered-free-pizza-for-life-in-exchange-for-a-logo-tattoo-it-found-people-really-like-ink-1537120377?emailToken=611f7bc106df3b8fa352ab523a130e604DDeEqRFizdmhv1e5er/+P8WjxEkmqE9lK4whxv9e0j07TxBkigvHAmFqLggrdQTqOOAfTB/gtP+TRgrimFHuJIL3uK9Z/FYBnTOKgtWUIZiMhFAkJpvtFgU+1h9rwScaPHxDmuBn12tVndux5RTNzF5n27OdPcvHC9DJeEGZuw%3D&reflink=article_copyURL_share

Give Women a Chance, and They Will Change the World

Give Women a Chance, and They Will Change the World   https://nyti.ms/2D1wI0C?smid=nytcore-ios-share

I Came of Age During the 2008 Financial Crisis. I’m Still Angry About It.

I Came of Age During the 2008 Financial Crisis. I’m Still Angry About It.   https://nyti.ms/2Ngm2jp?smid=nytcore-ios-share
Possible Economics Quiz questions. I will choose TWO of them for you to write on 1. What are the costs and benefits of the Amazon Way? 2. What are the costs and benefits of markets? 3. What are the economic concepts that the Production Possibility Curve demonstrate? Be specific and use examples. 4. What are the specific roles that government can play in the economy? Cite examples. 

The Recovery Threw the Middle-Class Dream Under a Benz

The Recovery Threw the Middle-Class Dream Under a Benz   https://nyti.ms/2Na9wly?smid=nytcore-ios-share

Commodification of Anxiety

https://www.vox.com/the-goods/2018/9/10/17826856/fidget-spinners-weighted-blankets-anxiety-products

Buffett recounts his role in the financial crisis of 2008

https://www.wsj.com/articles/warren-buffett-recounts-his-role-in-2008-financial-crisis-1536314400?emailToken=1c91a3c9827c6c65975360496bc8c990tOA8k6GLNrhHLa2teIY+v9Ag8w5vFSprtiatDadG5GhTRgaDZpm/RYCA2+C4NE2Qx+qfa2Qx93fM7ziw3WqB/3+mh/2mmBK/JQurGOGBTpm0lR5LbvGozeBeVZHkBlXm&reflink=article_copyURL_share

Financial crisis made us afraid of risk—for awhile

https://www.wsj.com/articles/the-financial-crisis-made-us-afraid-of-riskfor-a-while-1536379306?emailToken=fec2e9cfcf2c1892af76d01477bb94019dDJaoigGpM2Wr40ViKxSor4/3ShmpeWtXrCCRw421IDTXMEdQwW5RIeWPGVHKZKg3jj/RWxHn/WqyVTc4V8vcobYdbS/9yWsQJ/5x8RtujJNDlSXNIHHkPT+QzBTflt&reflink=article_copyURL_share

Hard Lessons (Thanks, Amazon) Breathe New Life Into Retail Stores

Hard Lessons (Thanks, Amazon) Breathe New Life Into Retail Stores   https://nyti.ms/2NaTNSG?smid=nytcore-ios-share

Overtourism’ Worries Europe. How Much Did Technology Help Get Us There?

https://www.nytimes.com/2018/08/29/technology/technology-overtourism-europe.html

Why It Can Happen Here

Why It Can Happen Here   https://nyti.ms/2LvoBZr?smid=nytcore-ios-share

Are Superstar Firms and Amazon Effects Reshaping the Economy?

Are Superstar Firms and Amazon Effects Reshaping the Economy?    https://nyti.ms/2MSa2DK?smid=nytcore-ios-share

Self-driving cars would work great, if it weren’t for all those unpredictable human drivers

http://click.et.npr.org/?qs=0b1654a45685a80f1217f47ad897019e11c314b67350f9b456ed0e5c6997cf326f9abcb368704f09cd46d38da8660f54f25a4f21f99f2420

Economics & Happiness

https://www.nytimes.com/2018/08/21/opinion/happiness-inequality-prosperity-.html?action=click&module=Opinion&pgtype=Homepage

Student Loans & The Medical Field

https://www.nytimes.com/2018/08/20/opinion/medical-school-student-loans-tuition-debt-doctor.html?action=click&pgtype=Homepage&clickSource=story-heading&module=opinion-c-col-right-region&region=opinion-c-col-right-region&WT.nav=opinion-c-col-right-region

How Bosses Waste Their Employees’ Time

https://www.wsj.com/articles/how-bosses-waste-their-employees-time-1534126140

Notes on a Butter Republic

Notes on a Butter Republic   https://nyti.ms/2KutLUT?smid=nytcore-ios-share

A Tough Task for Facebook: European-Type Privacy for All

A Tough Task for Facebook: European-Type Privacy for All   https://nyti.ms/2uStOau
At Nike, Revolt Led by Women Leads to Exodus of Male Executives   https://nyti.ms/2FpsY54

A Time for Big Economic Ideas

A Time for Big Economic Ideas   https://nyti.ms/2HiuUSR

Mark Zuckerberg’s Washington Mission: Stay Cool in a Hot Seat

https://www.wsj.com/articles/mark-zuckerbergs-washington-mission-stay-cool-in-a-very-hot-seat-1523230451

How to Win an Argument About Guns

How to Win an Argument About Guns   https://nyti.ms/2H5TNO9

China Strikes Back at the U.S. With Plans for Its Own Tariffs

China Strikes Back at the U.S. With Plans for Its Own Tariffs   https://nyti.ms/2GwCDMv

Possible essay questions for Janus’ classes for Friday’s quiz

1. Explain the Quantity Theory of Money. What assumptions does it make? Are they accurate? How is it different than the Institutional Theory of Money or the Insider/Outsider Theory? 2. Explain the History of the Second Amendment as outlined in the Judge Steven’s article.  3. Please explain the different types of inflation. What has the history of inflation been like? 4. Why has the target or natural rate of unemployment changed over time? 5. What is Okum’s rule of thumb? When it was applied to the Great Recession, did economists get it right? If not, why not? 6. What is the difference between the Sound Finance Theory and the Functional Finance Theory? What assumptions did believers in Functional Finance make that proved not to be accurate? 

We are in a correction!

Markets That Climbed the Trump Bump Are Tumbling Down From It   https://nyti.ms/2GuuSa8

Iowa’s employment problem: too many jobs, not enough people.

https://www.wsj.com/articles/iowas-employment-problem-too-many-jobs-not-enough-people-1522580400
E.P.A. Prepares to Roll Back Rules Requiring Cars to Be Cleaner and More Efficient   https://nyti.ms/2urXFGs
John Paul Stevens: Repeal the Second Amendment   https://nyti.ms/2pIaPuh

BUMBLING INTO A TRADE WAR

https://www.nytimes.com/2018/03/22/opinion/trade-war-china-trump.html

How Low Can Unemployment Really Go? Economists Have No Idea

How Low Can Unemployment Really Go? Economists Have No Idea   https://nyti.ms/2CLTJPX

The True Source of the N.R.A.’s Clout: Mobilization, Not Donations

The True Source of the N.R.A.’s Clout: Mobilization, Not Donations https://nyti.ms/2F5cp26

France Returns Works Orphaned By Nazi Looting, Seeking Owners Or Heirs

https://www.npr.org/sections/thetwo-way/2018/02/14/585712083/france-showcases-works-orphaned-by-nazi-looting-seeking-owners-or-heirs

GREEK Debt Crisis, part 1 and 2

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Venezuela Launches Virtual Currency, Hoping to Resuscitate Economy

Venezuela Launches Virtual Currency, Hoping to Resuscitate Economy https://nyti.ms/2Capxls

Possible Janus Test Questions

1. Why is a Soaring Economy and a Deficit a Bad Combination? 2. Why are Cryptocurrencies coming to College Campuses? 3. What is in Donald Trump’s New Budget? 4 Why did the “efficient market hypothesis help lead to the housing  bubble? 5. Why does structural stagnation lead to low inflation, high unemployment, and asset bubbles? 6. How did moral hazard play a role in the 2008 Financial Crisis?

The Economy Is Soaring, And Now So Is The Deficit. That’s A Bad Combination.

https://fivethirtyeight.com/features/the-economy-is-soaring-and-now-so-is-the-deficit-thats-a-bad-combination/

THE TRAGEDY OF TAXI DRIVERS

The Tragedy of Taxi Drivers https://nyti.ms/2BsAptZ

Donald Trump’s Nasty Budget

Donald Trump’s Nasty Budget https://nyti.ms/2BUGa4S

Liberals Wanted Fiscal Stimulus. Conservatives Delivered It.

Liberals Wanted Fiscal Stimulus. Conservatives Delivered It. https://nyti.ms/2BmYlij

Cryptocurrencies Come to Campus

Cryptocurrencies Come to Campus https://nyti.ms/2BfXIqR

Fraudulence of the Fiscal Hawks

Fraudulence of the Fiscal Hawks https://nyti.ms/2BiDYTy

Apocalypse Not

Apocalypse Not https://nyti.ms/2BMifnX

Ignore the Stock Market. The Economy Looks Fine.

Ignore the Stock Market. The Economy Looks Fine. https://nyti.ms/2ElfjQ9

50 Best Pre-College Summer Business Programs for High School Students - Best College Reviews

https://www.bestcollegereviews.org/features/pre-college-summer-business-programs-high-school-students/
Econ Questions for Janus’ Aggregate Test 1.  Explain the AD/AS Model. Why do economists like it? 2. Explain the old growth theory model and then the new growth theory model 3.  How has Globalization changed the United States in the last 30 years? 4. Please give a brief history of American education and then explain the experiments that List and Gneezy ran. What were their results?

How the Eagles Followed the Numbers to the Super Bowl

How the Eagles Followed the Numbers to the Super Bowl https://nyti.ms/2GG82c7

Amazon Wants to Disrupt Health Care in America. In China, Tech Giants Already Have.

Amazon Wants to Disrupt Health Care in America. In China, Tech Giants Already Have. https://nyti.ms/2GBegtM

DOW DROPS 363 POINTS

https://www.wsj.com/articles/asia-pacific-stocks-follow-u-s-markets-lower-1517276150

Amazon, Berkshire Hathaway, JPMorgan Join Forces to Pare Health-Care Costs - The Wall Street Journal

Amazon, Berkshire Hathaway, JPMorgan Join Forces to Pare Health-Care Costs - The Wall Street Journal https://apple.news/A9BTygbzoRziDiY5y44hO-g

Oil Boom gives the US an Edge in Energy and Diplomacy

https://www.nytimes.com/2018/01/28/business/energy-environment/oil-boom.html

Business Economics Major Proposed by Econ Department, Booth

https://www.chicagomaroon.com/article/2018/1/27/business-major-proposed-economics-department-booth-school/
MEASUREMENTS TEST: possible questions for Janus’ classes. 1. What conclusions do List and Gneezy reach about the gender gap in chapter 3 and what do they suggest we do about them? 2. What is Keynesian economics and why was it invented? 3. What is Structural Stagnation? Is the Great Recession an example of it? 4. What is GDP? How do you calculate real GDP? 5. Why do Economists and Laypeople Differ in Their Views of Trade?

BITCOINS ARE A BOON TO EXTREMIST GROUPS

https://www.washingtonpost.com/business/technology/bitcoins-boom-is-a-boon-for-extremist-groups/2017/12/26/9ca9c124-e59b-11e7-833f-155031558ff4_story.html

EVERYONE IS GETTING RICH AND YOU ARE NOT.

Everyone Is Getting Hilariously Rich and You’re Not https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html
Southwest Airlines Settles Suit but Denies Colluding to Keep Ticket Prices High https://www.nytimes.com/2018/01/06/business/southwest-airlines-lawsuit-prices.html

2017, THE BEST YEAR IN. HUMAN HISTORY?

Why 2017 Was the Best Year in Human History https://www.nytimes.com/2018/01/06/opinion/sunday/2017-progress-illiteracy-poverty.html

BECOMING WARREN BUFFETT

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